Shares of Lamar Advertising Co (NASDAQ:LAMR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $81.37 and last traded at $81.21, with a volume of 874 shares traded. The stock had previously closed at $81.21.
LAMR has been the subject of a number of analyst reports. BidaskClub downgraded Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. MKM Partners lifted their target price on Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Finally, Imperial Capital reiterated an “outperform” rating and set a $88.00 target price (down from $94.00) on shares of Lamar Advertising in a research report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.50.
The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 14.73 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.37.
Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.38). Lamar Advertising had a return on equity of 28.12% and a net margin of 18.76%. The business had revenue of $427.90 million for the quarter, compared to the consensus estimate of $426.29 million. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts expect that Lamar Advertising Co will post 5.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.84 annualized dividend and a dividend yield of 4.74%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.92. Lamar Advertising’s dividend payout ratio (DPR) is currently 69.82%.
In other Lamar Advertising news, CFO Keith A. Istre sold 22,263 shares of Lamar Advertising stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $76.84, for a total value of $1,710,688.92. Following the transaction, the chief financial officer now owns 135,185 shares in the company, valued at $10,387,615.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean E. Reilly sold 107,606 shares of Lamar Advertising stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $79.55, for a total value of $8,560,057.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,869 shares of company stock worth $14,202,746. Insiders own 15.64% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc grew its stake in Lamar Advertising by 7.5% in the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after purchasing an additional 867,169 shares during the last quarter. BlackRock Inc. grew its stake in Lamar Advertising by 2.7% in the fourth quarter. BlackRock Inc. now owns 8,390,109 shares of the real estate investment trust’s stock valued at $580,430,000 after purchasing an additional 218,645 shares during the last quarter. Victory Capital Management Inc. grew its stake in Lamar Advertising by 0.6% in the fourth quarter. Victory Capital Management Inc. now owns 3,084,238 shares of the real estate investment trust’s stock valued at $213,367,000 after purchasing an additional 19,144 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Lamar Advertising by 6,818.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,264,394 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Lamar Advertising by 13.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,872,135 shares of the real estate investment trust’s stock valued at $129,514,000 after purchasing an additional 219,504 shares during the last quarter. Institutional investors own 82.27% of the company’s stock.
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About Lamar Advertising (NASDAQ:LAMR)
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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